user
Summarize the following article, highlight all major points in the summary.

Additional Context:
Limited partnerships (LPs) are a flexible form of business structure that provides owners of the business both limited liability and tax advantages. With a limited partnership, there are at least one general partner who is personally liable for the obligations of the business, and limited partners who nominally manage the business, but have limited involvement and do not have personal liability. This can help limit the exposure of individual partners in a business venture, ensuring that the losses experience by one partner is contained to the extent of their invested capital.

Answer:
assistant
Limited partnerships (LPs) are a type of business structure providing owners with both limited liability and tax advantages. There is usually one general partner, who is liable for the business's obligations and multiple limited partners with minimal involvement and no personal liability. This way, the personal losses experienced by one partner are confined to the amount of their invested capital.